On April 10th, Boao Forum for Asia 2018 Annual Meeting was held in Boao, Hainan Province. President Xi Jinping proposed a series of new measures to expand China's opening up, including actively expanding imports. This year, we will reduce the import tariffs on automobiles by a considerable margin, reduce the import tariffs of some other products, strive to increase the import of special advantage products with relatively concentrated needs of the people, and accelerate the process of joining the World Trade Organization's "Government Procurement Agreement."

"China's promotion of imports and the promotion of balanced trade development are of great significance for the construction of a modern economic system." E-Zhong, chief economist of BOC Hong Kong, told the "Securities Daily" reporter yesterday that on the one hand, promoting imports can achieve balanced development of foreign trade, and To meet the growing domestic consumer demand, improve the quality of life of domestic residents, and improve everyone's sense of acquisition; on the other hand, increasing imports can bring competitive pressure to domestic related industries, and the survival of the fittest can promote Chinese companies to improve product quality and strengthen Innovative development can ultimately promote domestic industrial upgrading. Finally, lowering tariffs can provide domestic consumers with more quality choices to meet the people's needs for a better life.

Huang Zhilong, director of the Macroeconomic Center of Suning Financial Research Institute, told the "Securities Daily" reporter yesterday that China's promotion of imports and the promotion of trade balance have at least three major significances: First, for the Chinese economy, expanding imports is more conducive to making full use of other countries. Products and resources to improve the efficiency of the market in resource allocation and improve national welfare; Secondly, for the world economy, promoting imports will help improve the contribution of the Chinese economy to global economic growth, especially in the demand level to further enhance China's contribution. In the end, the trade balance is conducive to the balance of international payments, and is also conducive to the stability of the RMB exchange rate.

So how should China expand imports? In this regard, Huang Zhilong said that China can take the following two measures: First, reduce tariff barriers and non-tariff barriers, so that foreign goods and domestic goods face a relatively equal competitive environment; second, promote supply-side structural reforms, eliminate backwards And low-efficiency production capacity, importing cheaper and better quality products or resources to replace domestic backward production capacity.

In fact, this year's government work report proposes to expand the areas of telecommunications, medical care, education, and pensions, and reduce import tariffs on automobiles and some consumer goods.

E Zhizhao believes that the choice of expanding imports from the fields of telecommunications, medical care, education, pension, etc., on the one hand, can enrich domestic market supply and reduce consumption costs; on the other hand, it can promote domestic enterprises to more directly interface with international standards through importation and opening up. Learn from international experience to improve the level and competitiveness of the domestic service industry.

Huang Zhilong believes that the current domestic automobile industry has already had strong international competitiveness, and has reached the stage of development that needs to rely on high tariff protection. On the other hand, it also fulfills China's commitment to join the WTO, enabling domestic consumers to enjoy high quality and low price. imported product. In addition, expanding the opening of telecommunications, medical care, and pensions will help improve the efficiency and role of the market in these areas and broaden the sources of funding for investment in these areas.

In fact, in recent years China has done a lot of work to promote trade balance. Gu Xueming, dean of the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce of China, said recently that the State Council issued the "Several Opinions on Strengthening Imports" in 2014; the first China International Import Expo will be held in 2018; relevant departments are drafting further expansion of import and trade balance. Guidance is expected to be released in the near future.

E Zhizhen believes that in the future, it should increase the import of products in the service sector and accelerate the process of opening up the Chinese service industry. It may be considered to promote the full implementation of the pre-entry national treatment plus negative list management mode for foreign investment in the service industry, relax the entry barriers for foreign investment in the service industry, and simplify the procedures for the establishment and change of foreign-funded enterprises. In addition, the business environment should be further optimized to shorten the registration and registration time of foreign-funded enterprises. Finally, the service trade facilitation mechanism can be gradually established, and the efficiency of customs clearance will continue to be improved, and the introduction of international innovation achievements will be emphasized.

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